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If Snapchat can create a product without a business plan or revenues and get a buyout offer for $3 billion, maybe others can do the same.
You may have heard about Snapchat, the social media upstart that allows users to send photos that disappear in seconds. The company has no revenues and recently turned down a $3 billion all-cash offer from Facebook.
That kind of success is spurring a group of young technology buffs who rented a house in Naples to start a company called WorldLister that helps users quickly post their goods on eBay. The eBay-certified free app cuts the listing time by 85%, says Bryan Harmon, the 36-year-old co-founder and CEO.
Harmon says he and a group of friends and family pooled their resources, rented a house in Naples and focused on creating the program. “We've never taken a loan,” he says. “I risked everything.”
For now, Harmon says he's not concerned about revenues because WorldLister has one singular focus: the user. In particular, Harmon and his staff of 19 people created an app that lets users list items on eBay from their mobile phone in less than two minutes. “We actually invented an algorithm,” he says. “That's the secret sauce of it all.”
When pressed about making money and providing a return for investors, Harmon points to Snapchat's apparent success. “Opportunities seem to come when you give the user a great experience,” he says. “We have more than enough capital to finish this magical journey.”
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